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Canadians continue as heavy savers Can adians Cont inuLe t o save in record amnounits. The Canadian Bankers' A,)ssociation- (CBA) reports that as of mnid-1978 there were _24 mnillion persona] saVings accounIts at the char- tered banks holding $47.34 billion, comrpared to 23.3 mnillion accounits and $43.23 billion a year earlier. Th le average accounit held $1,972 against $Il,S54 a year earlier and $869 in 1968. Almnost 67 per cent of the accounits were for less than $ 1,000, and miore than 37 per cent for less than $100'. The CBA says these fi- gures point f0 the imnpor- tance of the individual as a source of funds for the eco- nom-y and the broad-based public acceptance of the chartered baniks as the court- try's principal savings insti- tutions. These statistics are indlu- ded in the CBA's just-issued Factbook, which also reports on a wide range of other banking activity. For instance: - Thse baniksin 1977 had net after-tax earnings of less than 50 cents for every $100 of assets employed. - Athough consumer credit is increasîng, the total 60 a year each. The bank- now have about 7,400 branches or an average of one for about every 3,200 Canadians. Paymient of interest on deposits and debentures is the largest single expense itemn for the banks, about $6D.9) billion in 1977. Canadian banks are increasing their international business and now have a- bout a third of their assets in foreign currencies, up from about 21 per cent in 1968. Foreign currency as- sets now exceed $54 billion. The CBA says Factbook is intended as a compact source of general and statis- tical information, includîng figures on a provincial basis, for students, teachers, 1- braries and others. Copies are available free in reason- able quantities in Engliali or French from the CBA's of- fices in Toronto or Montreal $2000 as a percentage of personal 1973 74 75 76 77 786 disposable income is just a- boutthesameas t wa in The average personal bott9es6easi9,sl savings deposit at the Cana- 1969.dian chartered banks now is -Canadians are second $1,972, up more than 61 only f0 Americans as, proli- per cent from $1 ,207 in fie cheque writers, averaging 1973. *DX SERVICE STATIONR * Hghway 35 115, îust north of Newcastle Featuring: Premnium Quality Products* * At thse Most Reasona bis PricosI I Stove 011& I Diesel 011 ~Ava ilable in any quantity Phone 987-4215 We have a complete uine of POP-CITY Soft Drinks. Save byI *buying these a case at atie George Brownf Doris Tennant Harvey Robinson Francis Tennant ()rono Weekly Times, Wednesday, l)ecember 27th, -1978-5 Kendal Cubs'ready for outing The Kendal Cubs last Satur- forest north Of the Village. day morning assembled for a Following the outing they three hour outing which included both a hay ride and returned to their leaders an educational walk in the home for refreshments. i Thnk smaiiI > byJimSmith I The Calmpus Round-Up They isaven't started shoot- ing yet but Canada's universi- ties are caught up in a slam- bang intercollegiate battie nonetiseless. And there may be soute casualties - thse tax- payers' budgets, if noth ing else -bef ore the dust setties. These are not tise best of times for tise scisools of isigiser education. Now that a univer- sity degree doesn't1 guarantee an interview let alone a job, students are Iess thtan eager to lay out tihe best years of tiseir lives plus thousands of dollars to -acquire a worthiess piece of, paper. (Knowiedge for the sake of k nowledge is a worthy ob- jective but it doesn't put food on thse table.) Tisere's -a strong dose of irony in thse universities' pre- dicament. After ail, the uni- versities produce thse civil ser- vants wio "plan" our national future. And one of tisose civil service -plans2isr.oagt about tise horrendous overexpansion of facilities with which the scisools are now saddled. But irony, mihile amusing, doesiî't help pa> tise buis - either tise uiiersities' or taxpayers'. Universities receive govern- ment grants on tise basis of en- roiment, a si'stem which en- courages schoois Io pull or. ail tise stops in tiseir recruit- ment campaigns. Lately, uni- versîties and communitý col- leges have added sophisticaled advertising campaigns to their arsenals of recruaiting weapons. At (tissen imoment, post- secondary cioosfrom cîoast to coast are using filmis, radio aind television cominercials and magazine ads lo lure students just as Proctor & Gamble uses advertising to attract custom- ers for tise f irm's soaps. Tise internecine warfare, fought via tise ad agencies, may be good news for broadcasters and publisisers, but it's bad news for tise taxpayer wiso winds up paying tise sisot. And the tactie penalizes tisose uni- versities that are most consci- entious witis publie funds and. use tiseir grants for education ratiser tisan Promotion. Unfortunately, tise funding system guarantees recruiting abuses. And scisools wisicis must reort to selling tisem- selves like soap flakes are also prone to iowering tiseir aca- demic standards Io bang on to thse bodies they have recruit- ed. Academic standards are not part of tise government's funding system. Thse wisole system is unfair to tise responsible educators and to tise taxpayers. Obvious- iy, a better îmethod of fund- ing our universities and col- leges - a system whicis ensures efficiency in enrolment and maîntaîns higis academic stan- dards - is needed immediately. But, untîl tisat systemn can be devised, tise provincial guvern- ments shouid order an immne- diate hait to university recruit- ing techniques that involve ad cam paigns. Witis our iigis lev el of government deficits, Cana- dians wuuld be grateful for every cust-cutting efficiency tise civil serv ants can offer. Thinksnaai' laraneditorial m esage trom the Canadianl Federat ion cf independent Buiness THE VISUAL ARTS CENTRE 0F NEWCASTLE is seeking an ADMINISTRATIVE CLERK Thse Visual Arts Centre will be hiring, immiiediately an effective self-starter to work on a part-time basis (2 working days a week - hours flexible) with the membership and Board of the Visual Arts Centre. Duties include program development, publicity, membership developmnent, fundraising, building maintenance and clerical responsibilities. If you are interested, please apiply in writing, including a resume by January 10, 1979, tIo: Admiinistrative Clerk Position The Visual Airts Centre Box 52 Bow,manville, Ontario. *SSO.SS*SSsto6SS* OSSSg ai u oyfins eews o ey ap e er eop Dmnon adae e rnOtroPoe935 e easn faB-a opri os aiga t ail uray friends7. Th Wela wish you a cieery ap y ew Yea a * Oon, Onarlo P, 97. ho etng 9will be TownofTownCale advied tat he Twn onci illbecOntadring .. . ......... ..... .. . ... . ................. -